Alphabet and Amazon Profits Boosted by AI Investment Gains and IPO Stakes
Amazon and Alphabet have driven record stock-market momentum through AI and cloud growth, but recent profit strength also reflects gains on investments in AI-linked companies. A regulatory filing and analysis found Alphabet’s investments accounted for over 70% of net quarterly income, especially SpaceX, while investment gains made up about 65% of Amazon’s net income, largely from its stake in Anthropic, which is also set to go public.